payday loans - quickquid, textloan and wage day advance

[timeforachange]

so i go into a stupid spot and was using payday loans o pa7y off old credi card debt i've finally cleared myself of the majority clearing peachy, cash genie and wonga. However it leaves me with these 3 outstanding currently.

 

Textloan agreed a payment plan but would not freeze any interest and it now went from 300 to 550.

 

quickquid have frozen interest however there payment plan was just too short requesting payment over 3 months.

 

and wageday advance kept adding monthly interest and said because i've paid nothing towards the account 2 months interest has been added.

 

i've tried multiple times to get a resolution but have not succeded should i just bite the bullet at least with the wage day advance one and pay the extra 120 or whatever it is. does anyone at all know what here debt collectors are like also?

 

finally does anyone know if these 3 report to credit files?

 

thanks

im considering waiting it out and just paying a debt collection agency on my terms of course.

Edited February 22, 2012 by timeforachange

[timeforachange]

anyone?

[quackquack]

hi yes they report it on ur credit files and qq will send it to a dca soon if u dont pay on the plan but dca will be better to deal with so good luck and look on other forums ie type in qq or wage day advance above xx:whoo:

[timeforachange]

ok cool jus on checking experian and equifax my wonga was reported bu these have never been noted on there. yeah quick quid are being a complete pain.

[quackquack]

u can get ur credit file back on track eventually just sort ur self out first and good luck dont worry

[timeforachange]

just received this email. i cant afford to pay the 300 in one go and i definetely dont want to pay the almost double figure. what can i do. contac email received below.

YOU ARE NOW IN DEFAULT.

 

As a result of your inaction, we deem this to be your deliberate attempt to break the Agreement between You and Us.

 

In order to avoid debt collection and possible LEGAL ACTION AGAINST YOU, please contact us within 5-days either via email: [email protected] or phone: 0871 705 0000*

 

Non-compliance with the Default Notice will mean that the unpaid loan will be recorded in a countrywide credit score database where it will remain for up-to six years.

 

The above action may result in you being refused all kinds of credit, loans, mortgages, mobile phones and even lose your debit cards until February 2018, over the total outstanding balance of £533.60. Interest will continue to accrue at 1.13% per day.

 

In an attempt to remedy this situation we would accept an immediate part settlement of £300.00 and as a responsible lender, we are willing to discuss a flexible payment plan for the remaining outstanding balance but time is running out!

 

 

* Calls cost 10p/minute from BT-landline plus standard network charge. Calls from mobile phones may vary, please consult with your mobile operator.

 

I look forward to hearing from you.

 

Yours Sincerely,

Karen Perch

Collections Department

[email protected]

 

 

TxtLoan Ltd

1 Cornhill,

London EC3V 3ND

txtloan.co.uk

[timeforachange]

thanks well i've just received this from textloan

 

YOU ARE NOW IN DEFAULT.

 

As a result of your inaction, we deem this to be your deliberate attempt to break the Agreement between You and Us.

 

In order to avoid debt collection and possible LEGAL ACTION AGAINST YOU, please contact us within 5-days either via email: [email protected] or phone: 0871 705 0000*

 

Non-compliance with the Default Notice will mean that the unpaid loan will be recorded in a countrywide credit score database where it will remain for up-to six years.

 

The above action may result in you being refused all kinds of credit, loans, mortgages, mobile phones and even lose your debit cards until February 2018, over the total outstanding balance of £533.60. Interest will continue to accrue at 1.13% per day.

 

In an attempt to remedy this situation we would accept an immediate part settlement of £300.00 and as a responsible lender, we are willing to discuss a flexible payment plan for the remaining outstanding balance but time is running out!

 

 

* Calls cost 10p/minute from BT-landline plus standard network charge. Calls from mobile phones may vary, please consult with your mobile operator.

 

I look forward to hearing from you.

 

Yours Sincerely,

Karen Perch

Collections Department

[email protected]

 

 

TxtLoan Ltd

1 Cornhill,

London EC3V 3ND

txtloan.co.uk

 

 

im not sure what to do. i cant afford 300 or 554 i need a payment plan to clear the 300.

[timeforachange]

i've been in debt a long while but didnt know you could lose your bank account over it or am i just falling for one of there tactics there?

[timeforachange]

i didnt know i could lose my bank account over it or am i just falling for there tactics?

[asmilecostsnothing]

Really 'lose debit card'... what they really mean is probably/maybe/perhaps/possibly you'll only be eligable for a basic bank account only! hey most of the nation no doubt are!

If really in debt why would someone want an account with an overdraft or more credit? what planet do they live on lol!

 

Hope you not going to take it to seriously ?

You can probably report it somewhere

Edited February 23, 2012 by asmilecostsnothing
.

[Al88]

I was amazed as I tried to go to there address as I work near it during my lunch break to get a letter signed to state that they received it as they have not replied to one of my emails, does this mean they can use the address of:

TxtLoan Ltd

1 Cornhill,

London EC3V 3ND

 

And they are not at this address this is just a post room the lady on the reception told me..

 

Don't believe them they can't close your bank account - who do they think they are your bank manager

[timeforachange]

thats what i thought as well. i dont want to lose my bank card obviously. ive been doing this for ages and im falling for there tactics with the debit card thing. cant help but worry though. al88 have they forwarded you to a debt collectors yet?

[timeforachange]

anyone?

[sillygirl1]

Get that email over to the Office of Fair Trading, Trading Standards and MP Stella Creasy, they are going very much against the OFT Guidelines on Debt Collecting, I cannot see how they think you can loose your bank account, that is none of their business, the bank has its own criteria for accounts, anyway you can always have a basic bank account with Halifax Easycash which has full online facilities and a debit card, Co-op or the Post Office.

 

Get complaining NOW - you can telephone the OFT and Trading Standards if you don't want to email on the websites

 

http://www.tradingstandards.gov.uk

http://www.consumerdirect.gov.uk for the Office of Fair Trading

 

Stella Creasy is very active in the PDL market and has journalists ready and waiting to name and shame these companies.

[sillygirl1]

I'd email back

 

Thank you for your inaccurate assumption that I am trying to avoid this alleged debt. I am in severe financial difficulty and have continued to communicate with you - which language would you now like me to use to make this easier for you.

 

On x date I borrowed x amount, to date I have repaid x amount

 

Your sums do not add up.

 

Please let me have a copy of your complaints procedure as I now need to invoke this in order to gain resolution via the FOS, Ministry of Justice.

 

I already have contacted the OFT and Trading Standards about your email.

[seanamarts]

Two threads merged. Can the op please stick to one thread.

 

Thank you

 

seamanarts

 

Site Team

[citizenB]

I cant see that you would lose your bank account/card over this debt.

 

If you were thinking of changing your bank to a different one.. then if you have lots of recorded debt then you might find you have a problem obtaining a debit card as some banks will only provide a basic current account.

 

I suggest you contact the OFT/TS as already advised, send them a copy of the text / email. I would think this company is almost certainly breaching OFT guidelines with their threats..

[timeforachange]

well my bank account is already open and with natwest. my wages go in every month to this account and they've just give me a new card which dont expire till 2015 i cant really see how they could effect this.

 

also silly girl how would you word the correspondance to trading standards etc and am i really going to achieve anything by contacting them?

 

i've emailed text loan stating im willing to repay there settlement figure of 300 but only on an installment basis so i will wait for a response to that first which im sure will be now.

 

also you said to say how much ive repaid so far in my correspondance but i've paid them nothing so far :S

 

finally any idea how i get in touch Stella Creasy.

 

thanks in advance.

[Al88]

thats what i thought as well. i dont want to lose my bank card obviously. ive been doing this for ages and im falling for there tactics with the debit card thing. cant help but worry though. al88 have they forwarded you to a debt collectors yet?

Yeah they forwarded it onto Fredrickson International - whom threatened me with the world basically they have no powers what so ever I offered them £10 pcm and would only be repaying the original loan plus one months which was more than what the credit agreement was for so I borrowed £200.00 and I said as a gesture of good will I will pay back £280 over 28 months they said no and so forth since then they contacted me from a manager to discuss the account and said if I pay £175 in a full and final settlement then he would wipe off all other charges which stood at £470 so I agreed once he sent me the offer and banking details, I paid that at the end of November

[timeforachange]

fair enough so they accepted less than the original loan. how long was i you was negotiating with fredrickson for?

 

take it you've had no issues with your bank account?

 

also did hey report the default to your credit file?

 

cheers

[Al88]

Oh it was for some time but what I did was I cancelled the debit card with bank Natwest at the time and never spoke to txtloans until 28 days after default - however Fredrickson no longer collect under payday loans due to the volume of complaints apparently from Jan 2012. but as for my credit file for 1 it was not good to begin with thats what happens when your silly and 18/19 and use credit cards / bank loans but they have not put anything on my credit file for 2/3 credit file people. as of last month. Don't worry keep to your figure you are going to pay them others would say get there banking details and just pay them I never done that but that would be the way to go in case (which they wouldn't) they attempt to take you to court

[timeforachange]

ahh ok hat dont suprise me. last night they informed me they would accept 35 pounds a month however it would be to clear 550 pounds. which id rather not pay back i'd rather pay back he original loan of 300 and only some of the interest. im not sure what to make the payments to txloan or just wait on the debt collector. regards

[timeforachange]

also he bank i was paying from i've already cancelled as necessary and opened up a new card with natwest. i just didn want to lose my natwes account but im no even sure how they could make me lose my new card when hey have none of the deatils. ive reported hem for tha email anyways.

[citizenB]

If you have entered into a continuous payment arrangement you CAN stop it and there is no need to change your bank.. please read the following..

 

http://www.consumeractiongroup.co.uk/forum/content.php?850-Continuous-Payment-Authorities-How-to-stop-them

[timeforachange]

just a bit of an update yesterday i received that same email stating the default except the figure has now increased again by almost £100

The above action may result in you being refused all kinds of credit, loans, mortgages, mobile phones and even lose your debit cards until April 2018, over the total outstanding balance of £627. interest will continue to accrue at 1.13% per day.

 

not sure when they gonna pass this over but i aint paying that amount.